How long is the inventory period (in days)? How long is the average collection period (receivables...
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How long is the inventory period (in days)? How long is the average collection period (receivables period) (in days)? How long is the account payable period (in days)? You have the following balance sheet and income statement information for Epic Corp.: Balance sheet $ Accounts receivable (A/R) 2,600 Inventory 4,500 Accounts payable (A/P) 620 Income statement $ Sales 9,000 Cost of goods sold (COGS) 7,200 All sales and purchases were on credit. How long is the inventory period (in days)? How long is the average collection period (receivables period) (in days)? How long is the account payable period (in days)? You have the following balance sheet and income statement information for Epic Corp.: Balance sheet $ Accounts receivable (A/R) 2,600 Inventory 4,500 Accounts payable (A/P) 620 Income statement $ Sales 9,000 Cost of goods sold (COGS) 7,200 All sales and purchases were on credit.
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1 Inventory period Inventory cost of goods sold 365 4500 7200 365 22... View the full answer
Related Book For
Financial Accounting Tools for Business Decision Making
ISBN: 978-0470239803
5th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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